Made it 42 months.....Now converting to a Chapter 7

[bobby125]

Well, I paid $743 a month for the last 42 months

Now I am converting to a Chapter 7

Why?

Because I can dump my two houses that are upside down AND get out of my remaining 18 months of $743 payments AND I get to live rent free for 9 months while they foreclose AND collect rent on my rental property while they foreclose on that one

For anyone just starting out in a 13 I would say Good Luck....And I mean that, it is VERY difficult to survive for 5 years

I couldnt make it

But this decision is right for me

Has anyone else converted from a 13 to a 7

Any pluses or minuses?

TIA

[HHM]

No real minuses. I assume you qualify for chapter 7. The pluses you already know, you get this done, you get a fresh start, and dump 2 properties you don't want.

[optimistic1]

Good for you

[bobby125]

Yes, I do qualify......given I have a few more expenses now and my income has gone down (the major factor) since I originally filed......